Zacks Investment Research downgraded shares of Fusion Telecommunications International, Inc. (NASDAQ:FSNN) from a buy rating to a hold rating in a report published on Tuesday, October 17th.
According to Zacks, “Fusion Telecommunications is a provider of VoIP (Voice Over Internet Protocol) and other Internet services to, from, in and between emerging markets in Asia, the Middle East, Africa, the Caribbean and Latin America. Fusion currently provides a full suite of communications services to corporations, postal telephone and telegraph companies, international carriers, government entities, Internet service providers and consumers in over 45 countries. “
Several other research analysts have also recently issued reports on FSNN. B. Riley reissued a buy rating and issued a $3.00 price objective on shares of Fusion Telecommunications International in a research note on Thursday, August 10th. ValuEngine raised Fusion Telecommunications International from a strong sell rating to a sell rating in a research note on Monday, August 28th. Finally, Craig Hallum reaffirmed a buy rating and set a $5.00 target price (up previously from $3.00) on shares of Fusion Telecommunications International in a research report on Wednesday, August 30th.
Fusion Telecommunications International (NASDAQ:FSNN) traded down 1.55% during midday trading on Tuesday, hitting $2.54. The company had a trading volume of 97,225 shares. The company’s market capitalization is $57.16 million. Fusion Telecommunications International has a 52 week low of $0.96 and a 52 week high of $3.57. The stock has a 50 day moving average price of $2.77 and a 200 day moving average price of $1.83.
Fusion Telecommunications International (NASDAQ:FSNN) last announced its quarterly earnings data on Monday, August 14th. The Wireless communications provider reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. Fusion Telecommunications International had a negative return on equity of 202.95% and a negative net margin of 10.47%. The company had revenue of $38.09 million for the quarter, compared to analysts’ expectations of $32.47 million. Equities analysts forecast that Fusion Telecommunications International will post ($0.59) earnings per share for the current fiscal year.
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In other Fusion Telecommunications International news, major shareholder Unterberg Capital Llc sold 745,000 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $2.12, for a total transaction of $1,579,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Asa Apptix sold 187,914 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $3.00, for a total value of $563,742.00. Following the sale, the insider now directly owns 2,510,012 shares in the company, valued at approximately $7,530,036. The disclosure for this sale can be found here. Insiders have sold a total of 3,204,017 shares of company stock worth $8,786,629 in the last ninety days. Insiders own 19.10% of the company’s stock.
A hedge fund recently bought a new stake in Fusion Telecommunications International stock. B. Riley Financial Inc. acquired a new position in Fusion Telecommunications International, Inc. (NASDAQ:FSNN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 100,000 shares of the Wireless communications provider’s stock, valued at approximately $145,000. B. Riley Financial Inc. owned approximately 0.45% of Fusion Telecommunications International at the end of the most recent reporting period. Institutional investors and hedge funds own 20.81% of the company’s stock.
About Fusion Telecommunications International
Fusion Telecommunications International, Inc is a United States-based provider of integrated cloud solutions, including cloud voice, cloud connectivity, cloud infrastructure, cloud computing, and managed cloud-based applications to businesses, and voice over Internet Protocol (VoIP)-based voice services to carriers.
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